hi all welcome to Lopudra youtube channel so today we are discussing about the topic from labor laws that is the differences between minimum wages fair wages and also the living wages okay so when we are concluding this topic we want to know the real word meaning of a wage right so wage is just like a remuneration or a price money that has to be given to a worker who does his work for an hourly basis or for a period of month or for a period of weekly months or any other time period he should have to be paid a minimum wage to him that is the real meaning of a wage okay so uh we all know that after the independence of india there are a lot a lot of uh changes and also establishments and enactments of acts can be came down. So, one of those most important thing is that more encouragements and more amendments and also the enactments of acts which will be laid down to the sector of labor laws okay so labor laws which means that factories act and also trade union act everything has been laid down from the labor laws okay so when we discussing about the topic about differences between minimum wages fair wages and living wages we want to know first of all the living wages okay so when we talk about the topic of minimum wages the minimum wages have an act that is minimum wages act 1948 okay so 1948 minimum wages act which is enacted by our parliament uh in 1948 in 1948 on march 15th okay so these um minimum wages which simply means that the lowest wage okay a lowest wage permitted by law or by special agreement. Okay. So that is included in the Minimum Wages Act. Okay.
So then minimum wages, depending upon the nature of the employment, the minimum wages can be varied, but minimum wages is stable and have to be given to each of the workers. who done their own services to any other sector or any other field okay that is included in the minimum wages so minimum wages is just like when a person who done his work but he does not know about the real skills and also the knowledge about a work but even if he does his work for an hourly basis then he has to be given that payment of minimum wage okay that is included in the fixing up of the minimum wages in the rates okay so the minimum wages is just like the lowest wages which will be given to a worker or a employee based on the hourly basis okay then when we came to fair wages fair wages is merely different from the minimum wages because fair wages are the minimum wage rates for specific occupations only okay so fair wages is just like they must be paid with an intermediary which called contractor So even if a work has to be done by an employee or worker with the help of a contractor doing to them. So that is included in the fair wages.
So they must be paid by the intermediary called contractors. So contractors doing work in relation with government sectors and also private sector in any other field, we all know that. So these mostly used to apply in both.
both private sector and also the public sector but specific occupations which are those specific occupations right yes the specific occupations are like trade and also securities and something like constructions these are included in the fair wages so they must have to be given a fair wage on the intermediary or with a name called contractor so contractor will give the money to them okay our agent will give the money to them so these are in these are included in the fair wages and also when we came to the um topic from uh topic of this session fair wages the concept of fair wages involves that rain that is sufficiently high to enable the worker to provide a standard family for food, shelter and clothing, medical care and education for the children appropriate to his status. in life okay so this is also included in the fair wages because fair wages is just like that every human that is living in a civilized society should have to keep a good standard right so at least for the betterment of their life like food clothes shelter etc so if these are also just like our basic needs So, these needs have to be fulfilled only through the betterment of the workers that they render services to them. So, the concept of fair wages which involves that to provide the standard family to live with the motive of betterment of life even if the education of the children also.
this is included in the fair wages okay then when we move to living wages living wages is just like it's based on the living conditions that have been a worker live in a residence okay so So even when we compare, for an example, I say that even if we compare a city, city place or a metropolitan city and a village area, the expenses or expenditures are very merely different and also very high, higher than the village areas. We all know that. So the living conditions are also higher than the village area and in a metropolitan city, we all know that. Yes.
So, even if they live in a residence or in a community, the living expenditures are also increaseable. they have to be came under the section of the living wages that is the wage needed to provided the minimum income necessary according to the residents according to the residents or the community that they are living okay so the calculation of the expenses and also calculation of the also the wages of the workers will be which will be varying and also these calculations will be significantly vary okay so when we came to this when we came to this living wages it is based on the community that is regarding a worker will be residing in a place so these all about the living wages fair wages and also minimum wages okay and these are simple topics we are concluding in this session so I hope that that you all understand this video and thank you all.